It really is about that 1%

Wow, that top 1% is doing really, really well, you’ll not be surprised to hear. Everyone else, not so well. The Congressional Budget Office is out with some new stats on Trends in the Distribution of Income over the last three decades. Between 1979 and 2007, here’s how various slices of the population did in real (inflation-adjusted) income growth after federal taxes: top 1%: +275% next 19%: +65% middle 60%: +40% bottom 20%: +18% Or, in graphic form: The stairstep pattern—the higher you go up the income ladder, the stronger the growth—is remarkable…. Read More